Triangle breakout

Good morning and welcome to another trading week.

Unemployment in the US has reached it's highest level in 20 years. This should not be news to readers of FXCPS.com as we have been mentioning the US would be having a slow down and dropping it's interest rates since the beginning of this year and still we hear a few voices suggesting it is still not the case. Now that NFP has come and gone we can concentrate on technical trading again.

A previous forex analysis stated the USD/CHF is in a triangle formation and we were waiting for a breakout. We have now had a breakout and are awaiting confirmation just in case of a fakeout situation. Apply the ESLT and be patient. However, beware this may take some of you over the risk management level.


Chart courtesy of Advanced GET. Data provided by eSignal.

Crude oil has been in the news all week and all weekend. Comments of prices set to reach the $150 and $200 are worrying people. Those who have had training/mentoring from us will know how to handle this situation.

Good trading.

Forex Analysts
Anne Chapman & Javid Shaik